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Monday, January 17, 2022

KFC, Pizza Hut’s biggest franchisee Devyani International to bring IPO of 1400 crores, will get a chance to make money

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Devyani International has deposited the paper with the capital market regulator Sebi to raise Rs 1,400 crore through an initial share sale.

IPO

Devyani International, the largest franchisee of Pizza Hut, KFC and Costa Coffee in India, raised Rs 1,400 crore through an initial share sale by capital market regulator Sebi. Passed the initial letter. The Initial Public Offering (IPO) consists of an offer to sell 1,400 crore of new equity shares and 125,333,330 equity shares of the promoter and existing shareholders.

The company said that as part of the sale offer, Dunnar Investments (Mauritius) Private Limited will sell 65,333,330 shares, while the promoter RJ Corp will sell 60 million shares. DunArn is a wholly owned subsidiary of Temasek Holdings.

Use of funds raised from IPO

According to business banking sources, it is expected to raise Rs 1,400 crore from the IPO. The proceeds from the sale of new shares will be used to repay the loan and for general corporate purposes.

109 stores opened across the country during the Corona era

Despite the Corona crisis, the company has opened 109 stores across the country in the last 6 months. KFC and Pizza Hut were among those who started contactless deliveries in May 2020 and June 2020.

Apart from this, the company has its own brands including Vaango, Food Street, Masala Twist, Amreli Ile Bar and Ckrussh Juice Bar etc.

It has 692 stores across the country. The company also has stores in Nepal and Nigeria. Devyani is India’s largest QSR company to be listed on Swiggy and one of India’s largest QSR company to be listed on Zomato platform in 2019 and 2020.

These are the managers of IPO

Devyani International has appointed Kotak Mahindra Capital Company Limited, Edelweiss Financial Services Limited, CLSA India Limited and Motilal Oswal Investment Advisors Limited as its investment bankers.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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